• Buying in: Val d’Isère
• Property price: €3,790,400
• Loan amount: €3,550,000
• Mortgage type: Interest only
• Mortgage term: 15
• Interest rate: 1.20% fixed
• Loan-to-value: 94%

The Background

Our client, a British resident wishing to buy a property in the Alps, is a successful businessman with an excellent profile. He was interested in getting an interest only mortgage.

Our Approach

As we said, the profile was excellent, however the client owned many companies and sub companies so the first bank turned down the application as they thought it was too complicated for them to manage and understudy. 

As the property was already built, we turned our head towards a private bank solution. The client had a lot of liquid assets (above 15M€) which made the bank much more comfortable with the multiple companies. The interesting point with private banks is that we can go as high as 100% LTV as long as you place 50% of the loan amount in Assets under Management. 

Last but not least, the rate turned out to be extremely low (1.20% fixed) for an interest only mortgage.